The archived blog of the Project On Government Oversight (POGO).

8.$6.6 Billion Lost and Found in Iraq

(Special Inspector General for Iraq Reconstruction, 2010/2011)

It should be impossible to lose $6.6 billion in cash, but that’s exactly what the U.S. government appeared to do in Iraq, when U.S. defense officials were unable to account for the funds. In an October 2011 audit, the Special Inspector General for Iraq Reconstruction determined that the Coalition Provisional Authority had transferred control of the vast majority of funds to the Central Bank of Iraq. This audit provided oversight on where taxpayer dollars were going in Iraq—something the Department of Defense didn’t appear to be able to do on its own.